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Energy

CORRECTED: Iraq deepens production cuts

The Oil Ministry made major cuts at state-operated fields in October in a bid to answer OPEC-plus concerns over quota compliance.

Personnel from the state-run Iraqi Drilling Company (IDC) operate a drilling rig at the Zubair oil field in Basra in September 2024. (Photo credit: IDC)

Iraq signs 5-plus and 6th round contracts

Thirteen deals from the May licensing round were finalized and signed at a ceremony in Baghdad, as Chinese firms further expand their footprint in Iraq’s oil sector.

August production falls as Iraq initiates cuts

Renewed OPEC-plus pressure pushes Iraq to cut at least 100,000 bpd from state fields and accelerate maintenance plans at other projects in a bid to improve quota compliance.